S Korean gov't approves $2.1 bln projects on road construction

Special Report:Global Financial Crisis

SEOUL, Dec. 29 (Chinese media) -- The South Korean

government said Monday that it has approved road-construction projects valued

2.7 trillion won (2.1 billion U.S. dollars) over the next five years in a bid to

bolster slumping domestic demand.

The investment will be used to construct three

separate roads, whose combined length will be 130.3 km, by 2014, the Ministry of

Strategy and Finance said.

The projects will also involve private investment and

are intended to bolster the nation's rapidly declining domestic demand, it said.

Civilian participation will be made through a

build-transfer-operate method, under which private builders construct public

facilities at their own expense and operate them for profit, with ownership

transferred to the government after a given period, the ministry said.